Montauk Renewables (NASDAQ:MNTK) Shares Gap Up – Time to Buy?

Shares of Montauk Renewables, Inc. (NASDAQ:MNTK) gapped up prior to trading on Tuesday . The stock had previously closed at $4.19, but opened at $4.40. Montauk Renewables shares last traded at $4.27, with a volume of 144,546 shares changing hands.

Montauk Renewables Price Performance

The firm has a market cap of $609.32 million, a price-to-earnings ratio of 26.56 and a beta of -0.26. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. The business’s 50-day simple moving average is $4.15 and its two-hundred day simple moving average is $4.77.

Hedge Funds Weigh In On Montauk Renewables

Hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. boosted its position in Montauk Renewables by 105.0% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,898 shares of the company’s stock valued at $26,000 after acquiring an additional 2,509 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Montauk Renewables by 14.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company’s stock valued at $186,000 after purchasing an additional 4,176 shares in the last quarter. Verition Fund Management LLC grew its stake in Montauk Renewables by 12.4% during the third quarter. Verition Fund Management LLC now owns 44,739 shares of the company’s stock worth $233,000 after purchasing an additional 4,947 shares during the period. Geode Capital Management LLC grew its stake in Montauk Renewables by 0.6% during the third quarter. Geode Capital Management LLC now owns 1,636,368 shares of the company’s stock worth $8,527,000 after purchasing an additional 9,203 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Montauk Renewables by 16.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 70,749 shares of the company’s stock valued at $369,000 after acquiring an additional 9,756 shares in the last quarter. Institutional investors own 16.35% of the company’s stock.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.